(CNBC) -- Stocks jumped to record highs on Monday to start the final trading week of 2020 after President Donald Trump signed an economic relief bill.
The Dow Jones Industrial Average closed 204.10 points higher, or 0.7%, at 30,403.97. The S&P 500 climbed 0.9% to 3,735.36, and the Nasdaq Composite rose 0.7% to 12,899.42.
Trump signed a $900 billion Covid-19 relief bill into law, averting a government shutdown and extending unemployment benefits to millions of Americans. The signing came days after Trump suggested he would veto the legislation, demanding $2,000 direct payments to Americans, instead of $600. The House is expected to vote on a $2,000 direct payment on Monday, but the GOP-led Senate is not expected to push it through.
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